Powell Industries, Inc. $POWL Shares Acquired by Tema Etfs LLC

Tema Etfs LLC grew its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 281.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 53,170 shares of the industrial products company’s stock after purchasing an additional 39,238 shares during the period. Powell Industries comprises approximately 1.3% of Tema Etfs LLC’s portfolio, making the stock its 7th biggest position. Tema Etfs LLC owned about 0.44% of Powell Industries worth $16,207,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of POWL. Elevation Point Wealth Partners LLC purchased a new position in shares of Powell Industries during the second quarter valued at approximately $33,000. State of Wyoming bought a new position in Powell Industries during the 2nd quarter valued at $33,000. Manchester Capital Management LLC boosted its holdings in Powell Industries by 42.9% during the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 60 shares during the last quarter. Virtus Advisers LLC purchased a new position in Powell Industries during the 2nd quarter worth $46,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in shares of Powell Industries in the 2nd quarter worth $52,000. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on POWL shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Roth Capital restated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $350.00.

Powell Industries Stock Performance

Shares of POWL stock opened at $365.49 on Monday. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.71 and a beta of 0.86. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $413.00. The firm’s 50-day simple moving average is $338.30 and its two-hundred day simple moving average is $296.33.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. The firm had revenue of $297.98 million during the quarter, compared to the consensus estimate of $292.85 million. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.77 EPS. Analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Powell Industries’s dividend payout ratio (DPR) is currently 7.21%.

Insider Activity

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $331.73, for a total value of $995,190.00. Following the sale, the vice president directly owned 4,451 shares in the company, valued at $1,476,530.23. The trade was a 40.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

About Powell Industries

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.